European Central Bank policymakers see a July rate hike as still possible after Thursday's meeting, sources told Reuters on Thursday. ECB policymakers backed Thursday's decision unanimously the sources, added, noting that they did differ on risks. 

Market Reaction

The latest Reuters report of commentary from ECB sources bigging up the prospect of a July hike is helping the euro recover from lows. EUR/USD is now trading back to the north of the 1.0800 level as a result and may now eye a push back into the upper 1.0800s. 

Some traders might interpret the timing and tone of the latest "sources" as representative of the fact that ECB members were not happy with the market's reaction to the latest meeting and are seeking to cushion euro downside. Euro downside is a problem for the ECB, after all, as it makes the import of commodities like energy more expensive, worsening the Eurozone's inflation problem.